Pennsylvania § 9123 Computation of amount due

Pennsylvania Statutes

§ 9123 — Computation of amount due

Pennsylvania § 9123

JurisdictionPennsylvania

Title 53MUNICIPALITIES GENERALLY

PartPART VII

Ch. 91MUNICIPAL PENSIONS

Subch.POLICE PENSION PLANS

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Bluebook

53 Pa. Cons. Stat. § 9123 (2026).

Text

The amount due for the purchase of credit for prior police service under this subchapter shall be computed by:

(1)multiplying the normal cost rate for the police pension plan a police officer is buying into, but not to exceed 10%, by the police officer's average annual rate of compensation over the first three years of service with the police department; and

(2)multiplying the product from paragraph (1) by the number of years and fractional part of a year of creditable prior police service being purchased together with interest at the rate of 4.75% compounded annually from the date of initial entry into full-time service with the police department to the date of payment.

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The amount due for the purchase of credit for prior police service under this subchapter shall be computed by:

(1) multiplying the normal cost rate for the police pension plan a police officer is buying into, but not to exceed 10%, by the police officer's average annual rate of compensation over the first three years of service with the police department; and

(2) multiplying the product from paragraph (1) by the number of years and fractional part of a year of creditable prior police service being purchased together with interest at the rate of 4.75% compounded annually from the date of initial entry into full-time service with the police department to the date of payment.